Payment Terms Legislation In Turkey
Please see below for a summary of payment terms in Turkey and the various industries across which payment term legislation appears. You can also download a summary of all Turkish payment terms by clicking the button below.
Article 1530 of Turkish Commercial Code 6103, Results of Late Payments in Processes Prohibited by Commercial Provisions and Supply of Goods and Services, sets a 30 day default term where no term is specified in contract. The maximum commercial contract term is 60 days unless otherwise agreed and not a severe injustice. For payments to SMEs, agriculture or animal producers the maximum term is strictly 60 days.
Article 7 of the Law on the Regulation of Retail trade sets a maximum payment term of 30 days for good which can spoil within 30 days.
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